Mar 15, 2011 7:00pm PDT
: market strategist mike holland and economist diane swonk weigh in with their analysis. you're watching "nightly business report" for tuesday, march 15. this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program is made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt >> susie: good evening, everyone. my colleague tom hudson is off. japan is on high alert tonight as the country responds to yet another explosion at the daichi nuclear power plant. japan's prime minister warned of substantial radiation leaks. the ongoing threat of radioactive fallout led to a global market sell-off today. we have complete coverage, beginning in tokyo with correspondent lucy craft. when i talked with her a short while ago, i began by asking what is the japanese government telling people. >> what we are hearing is there is the continuing troubles at the reactors. there are a total of six reactors at this power plant. and four of them have been having malfunctions at various times.
Feb 28, 2011 7:00pm PST
we don't have to pass them along. >> reporter: mesirow financial economist diane swonk agrees that raising prices on discretionary products and services in the current economy is a huge gamble. >> it adds to the unevenness of the recovery. in fact, we've already seen this in the consumer sentiment data, which showed that all of the improvement in the consumer sentiment in february came from among the wealthiest households who could care less about these higher energy prices. there was an actual deterioration in consumer sentiment among the poorest of households, who have already had to pull back at shopping at discount stores and any discretionary spending they had anyway. >> phillip thinks his business can shoulder higher gasoline prices even if they top $4.00 a gallon. but economists say in this fragile environment some small business may be forced to cut workers if prices keep climbing. diane eastabrook, "nightly business report," westmont, illinois. >> susie: here are the stories in tonight's n.b.r. newswheel: stocks closed higher after oil prices stabilized. the dow rose